Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

    September 30,
2022		     December 31,
2021		  
             
Buildings and improvements   $ 3,847,687     $ 2,869,300  
Real estate development     541,116       210,322  
Land     2,194,671       575,233  
Furniture and fixtures     403,560       403,560  
Vineyards     219,766       219,766  
Machinery and equipment     737,433       693,761  
Leasehold improvements     1,502,169       449,401  
Computer hardware and software     299,718       245,978  
Property and equipment, gross     9,746,120       5,667,321  
Less: Accumulated depreciation and amortization     (2,065,102 )     (1,890,380 )
Property and equipment, net   $ 7,681,018     $ 3,776,941  

 

Depreciation and amortization of property and equipment was approximately $82,000 and $175,000 during the three and nine months ended September 30, 2022, respectively, and was approximately $36,000 and $104,000 during the three and nine months ended September 30, 2021, respectively.